(ANSA) – ROME, NOVEMBER 24 – “In Europe we are no longer facing downward inflation risks. This is the merit of a successful macroeconomic response, of which monetary policy was a key component”. This was said by the executive member of the ECB, Fabio Panetta, during a conference in Paris, underlining however that “it is not the time to declare victory”. Panetta explained that “we must not be distracted by short-term volatility or transient factors related to the atypical economic situation we are seeing” but “on the basis of empirical evidence, we must constantly evaluate the strength of the economy and the two-way risks created by the shocks of the economy. ‘offering”. So “as regards today’s monetary policy, patience is needed, the most courageous form of action”, Panetta highlighted. Indeed, “a premature tightening of monetary policy could transform the supply shock into a prolonged recession, thus depressing demand and undermining price stability in the medium term”, warned the central banker. (HANDLE).
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Source From: Ansa
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